EU and Belgium Deny Clash Over Billions in Frozen Russian Funds

The European Union’s top official has dismissed claims of a dispute with Belgium over the management of frozen Russian state assets. Charles Michel, President of the European Council, stated that talks are cooperative. "This is not a fight between Europe and Belgium. We are working together on a solution," he said. The discussions focus on approximately €200 billion in Russian central bank assets frozen at Euroclear, a major financial clearinghouse based in Belgium. The EU is exploring legal ways to use the profits from these assets to fund military aid for Ukraine. Belgium, as the host nation of Euroclear, has a key role in the negotiations. Both sides emphasize they are aligned in finding a legally sound agreement. The goal is to ensure any plan is effective and withstands potential legal challenges from Russia.